I agree with davem and lyta. From Pippin's account Boromir stalls the attack twice, on the third "regroup and recharge" he is defeated. Seeing that he's stopped them twice, but they've come back and attack him again, I don't think he honestly believes he can take them all down single-handedly, but I do believe he was just trying to stall them enough for the other members of the company to come. Since, he does blow his horn.
I think Boromir knows he can't beat them by himself, but by just blowing his horn, I believe he thought he could hold them off until help arrived.
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